Table 1 MACRS Half-Year ConventionDepreciation Rate for Recovery Period3-Year5-Year7-Year10-Year15-Year20-YearYear 1Year 2Year 3Year 433.33%20.00%14.29%10.00%5.00%3.750%44.4532.0024.4918.009.507.21914.8119.2017.4914.408.556.6777.4111.5212.4911.527.706.177Year 511.528.939.226.935.713Year 65.768.927.376.235.285Year 78.936.555.904.888Year 84.466.555.904.522Year 96.565.914.462Year 106.555.904.461Year 113.285.914.462Year 125.904.461Year 135.914.462Year 145.904,461Year 155.914.462Year 162.954.461Year 174.462Year 184,461Year 194.462Year 204,461Year 212.231 Crouch LLC placed in service on May 19, 2021, machinery and equipment (seven-year property) with a basis of $3,200,000. Assume that Crouch hassufficient income to avoid any limitations. Calculate the maximum depreciation deduction including §179 expensing (but ignoring bonus depreciation).(Use MACRS Table 1.)Multiple Choice$457,280$470,000$860,117$1,050,000None of the choices are correct.

Threshold for section 179 phase out 2021 = 2620000

Crouch LLC placed in service on May 19, 2021, machinery and equipment (seven-year property) with a basis of $3,200,000. Assume that Crouch has sufficient income to avoid any limitations. Calculate the maximum depreciation deduction including $179 expensing (but ignoring bonus depreciation). (Use MACRS Table 1.) Multiple Choice $457,280 $470,000 $860,117 $1,050,000

Crouch LLC placed in service on May 19, 2021, machinery and equipment (seven-year property) with a basis of $3,200,000. Assume that Crouch has sufficient income to avoid any limitations. Calculate the maximum depreciation deduction including $179 expensing (but ignoring bonus depreciation). (Use MACRS Table 1.) Multiple Choice $457,280 $470,000 $860,117 $1,050,000

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter12: Alternative Minimum Tax

Section: Chapter Questions

Problem 34P: In March 2019, Helen Carlon acquired used equipment for her business at a cost of 300,000. The...

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